HAL reveals a dividend as Q3 net profit grows 8.6% to ₹1,253.5 cr

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HAL reveals a dividend as Q3 net profit grows 8.6% to ₹1,253.5 cr

Mid Corporate 12 Feb 2024 04:26 PM IST CNBC

Hindustan Aeronautics (HAL), a public aerospace and defense corporation, announced on Monday that its standalone net profit for the October to December quarter rose by 8.6% YoY to ₹1,253.5 crore. In the equivalent quarter of the previous fiscal year, that amount was ₹1,153.9 crore.

Revenue from operations rose 7% on-year to ₹6,061 crore for the quarter ended December. The same stood at ₹5,666 crore in the corresponding quarter of last year. EBITDA or earnings before interest, tax, depreciation, tax and ammortisation has jumped 45.5% to ₹1,434 crore, compared to ₹985.7 crore in the year-ago period. The operating profit margins stood at 23.6% versus 17.4% in the corresponding quarter last year.

The Board of HAL has declared a first interim dividend of ₹22 per equity share for the financial year 2023-24. The record date for the payment of first interim dividend will be Tuesday, February 20, 2024. HAL shares were trading 4.54% lower at ₹2,830.65 apiece on the NSE during Monday's late afternoon trade. The stock has given multibagger returns to investors in the last one year period, rallying over 130%.

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HAL reveals a dividend as Q3 net profit grows 8.6% to ₹1,253.5 cr

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